Financial markets this week A sell-off on global equity markets on Thursday pushed returns for this week into negative territory as investor concern focussed on the pace of the economic growth across the developed economies. The US S&P 500 Index finished the week 0.3% lower, after falling around 1% on Thursday. In contrast the local S&P ASX 200 Index was 0.6% higher, but may open lower today given the overnight lead from the United States. The Commonwealth Governments Budget Statement this week had little apparent direct impact on share markets or currency markets. The $A was US 0.2 cents lower for the week and is currently trading at US 93.6 cents. With financial markets becoming a little more bearish on the outlook for economic growth, there was a rally on bond markets this week. The US 5-year Treasury Bond yield fell from 1.63% to 1.52%, while the Australian 5-year bond yield was 0.05% lower at 3.18%.
Posted on: Sun, 18 May 2014 23:48:17 +0000
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